Central European Business Review

7-14

Authors: Tobias Kollmann, Christoph Stöckmann, Patrick Krell, Anika Peschl, Sarah Buchwald

Previous literature highlights employees’ creativity as an important means to foster innovation and competitive advantage in companies. Transformational leadership is a leadership approach aiming at stimulating and encouraging the creative performance of employees. However, contradictory empirical findings indicate that the relationship between transformational leadership and creativity may be more complex than a simple direct link. Drawing from existing literature, we propose that dependency on the leader is a partial mediator of this relationship, impeding employees’ creativity. Synthesizing theories of leadership and creativity, we propose that empowerment as a moderator is able to reduce the dependency on the leader caused by transformational leadership as well as to contribute to turning possible negative outcomes of transformational leadership on creative performance into positive. Findings of a PLS analysis of 271 employees support the predicted mediating and moderating effects. Post-hoc analysis reveals a curvilinear moderating effect and provides additional insights on the varying effects of the subdimensions of empowerment.

21-27

Authors: Mojmir Helisek

The objective of the paper is to assess the reasons for the current negative position of the Czech Government toward euro adoption and to find out whether the expected benefits of euro adoption for Czech companies still remain. The postponement of euro adoption in the Czech Republic has mainly been caused by the current problems of the euro area. The benefits arising from euro adoption are subject to the reduction of the exchange rate volatility and of the transaction costs, whereas they also depend on the degree of integration with the euro area. These benefits may still be expected – neither the financial crisis nor the economic recession has affected them. The integration of the Czech economy with the euro area is high and still growing. Therefore, euro adoption will lead to the stimulation of mutual trade of the Czech Republic and the euro area.

35-42

Authors: Jiří Sedláček

The first large scale (almost 500 products, 64,300 individual price listings) empirical study of price dispersion based on the data from the Czech Republic’s e‑shops is presented in the paper. First, simple descriptive indicators like average, max, min, median and standard deviation were calculated for each product. Second, several versions of linear regression models were constructed for each of 10 product categories and evaluated against hypotheses. The price dispersion (measured as a price range or by the standard deviation method) was regressed against its mean market price and number of e-shops. At least one regression model is significant for each product category. For the majority of categories R2 is high or very high (the mean market price variable accounts for 86% to 96.7% in the price dispersion) or at least medium (61.5% or 69%). Some other findings and the important role of pricebots for e-shop owners and marketing managers are also discussed.